Acme Group, IdaTech and Ballard Power Sign Venture Agreement

ACME Group, a provider of energy efficient infrastructure solutions for the telecom industry, has just signed a three-party contract and joint venture agreement with IdaTech, an advanced fuel cell solutions company, and Ballard Power Solutions, a company that specializes in clean energy fuel cell products for the development and supply of the PEM fuel cell systems.

 

Polymer Electrolyte Membrane (PEM) fuel cells use hydrogen fuel and oxygen from the air to produce electricity. These cells are also referred to as Proton Exchange Membrane fuel cells and are of great use for the telecommunications, commercial and industrial backup power.

 

International law firm Brown Rudnick, led by Rahoul Roy, the firm’s India practice leader, represented ACME in negotiating and settling this tripartite agreement among ACME, IdaTech (News - Alert) and Ballard.

 

As per the terms of this agreement, IdaTech will be supplying ACME with natural gas reformed fuel cell systems which will include fuel cell stacks from Ballard. Initial delivery is for 10,000 5kW fuel cell systems along with an option for another 20,000 to be delivered within India and for telecom backup power applications in countries in the Middle East and parts of Africa, except South Africa.

 

This supply of fuel cells will enable ACME to offer its customers more reliable, economic and “green” products.

 

ACME and IdaTech will manufacture and assemble the systems in India, and Ballard will be the exclusive supplier of the fuel cells.

 

“This was a highly complex transaction in its geographic scope as well as its legal, business and cultural sensitivities. Serving as legal counsel and business advisor, Brown Rudnick played a pivotal role in closing the deal,” said Atul Sabharwal, chief operating officer at ACME Group.

 

“Thanks to counsel’s sage guidance and advocacy, ACME will be able to deliver to our customers reliable, quality fuel cell backup power that will also substantially reduce greenhouse gas emissions,” added Sabharwal.

 

Brown Rudnick has been serving its clients globally via its business-focused solutions in areas that include: Corporate & Securities, Intellectual Property, Finance, Energy, Bankruptcy & Corporate Restructuring, Complex Litigation, Government Law & Strategies, Health Law and Real Estate.

 

The ACME Group is a provider in the field of innovative, green energy solutions for wireless telecommunications, cold chain systems, alternative energy, wastewater treatment and environmental impact solutions. ACME solutions, which are geared towards energy optimization and cost-efficiency, have been welcomed by leading telecom operators around the world. The company enjoys an international presence through its own establishments, channel partners and associates in over 20 countries and partners with giants such as Nokia Siemens Networks and Ericsson.

 

Ballard Power Systems (News - Alert) is recognized as a world innovator in the design, development, manufacture and sale of clean energy fuel cell products. Ballard's mission is to accelerate fuel cell product adoption. To learn more about what Ballard is doing with Power to Change the World(R), visit www.ballard.com.

 

IdaTech is a global leader in the development and manufacturing of clean and reliable PEM fuel cell solutions for telecommunications, commercial and industrial backup power from 250W to 15kW. IdaTech’s unique technologies provide solutions for a wide range of applications from portable to off grid power and directly support efforts towards sustainable energy. IdaTech’s portfolio of industry-certified fuel cell solutions are based on the company’s fuel processing, fuel cell stack and power module and fuel cell system integration capabilities.